Saba Capital Files 9th Amendment on Nuveen Multi-Asset Income Fund Stake
Ticker: NMAI · Form: SC 13D/A · Filed: Jan 18, 2024 · CIK: 1861115
| Field | Detail |
|---|---|
| Company | Nuveen Multi-Asset Income Fund (NMAI) |
| Form Type | SC 13D/A |
| Filed Date | Jan 18, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: activist-investing, amendment, fund-ownership
TL;DR
**Saba Capital is still actively involved with Nuveen Multi-Asset Income Fund, signaling potential future moves.**
AI Summary
Saba Capital Management, L.P. filed an amendment (SC 13D/A) on January 18, 2024, regarding its ownership in Nuveen Multi-Asset Income Fund. This filing, Amendment No. 9, updates previous disclosures about Saba Capital's stake in the fund's Common Shares ($0.01 par value). While the filing doesn't detail specific changes in holdings or intentions, it signifies an ongoing active interest from Saba Capital, a known activist investor. This matters to shareholders because Saba Capital's involvement often indicates potential for strategic changes, such as advocating for share buybacks, dividend adjustments, or other actions to enhance shareholder value, which could impact the stock's performance.
Why It Matters
This filing signals Saba Capital's continued active interest in Nuveen Multi-Asset Income Fund, potentially leading to future activist campaigns or strategic proposals that could influence the fund's management and share price.
Risk Assessment
Risk Level: medium — The presence of an activist investor like Saba Capital introduces both potential upside from value-enhancing initiatives and downside from potential disagreements or prolonged campaigns.
Analyst Insight
Investors should monitor future filings from Saba Capital for specific details on their intentions or any proposed actions regarding Nuveen Multi-Asset Income Fund, as this could signal potential changes in the fund's strategy or governance.
Key Numbers
- 9 — Amendment Number (This is the ninth amendment filed by Saba Capital regarding its stake in Nuveen Multi-Asset Income Fund, indicating ongoing engagement.)
- 670750108 — CUSIP Number (Identifies the specific class of securities (Common Shares) of Nuveen Multi-Asset Income Fund.)
Key Players & Entities
- Saba Capital Management, L.P. (company) — the reporting person and activist investor
- Nuveen Multi-Asset Income Fund (company) — the subject company (issuer)
- Boaz R. Weinstein (person) — a group member associated with Saba Capital
- Saba Capital Management GP, LLC (company) — a group member associated with Saba Capital
- Michael D'Angelo (person) — contact person for Saba Capital Management, L.P.
- $0.01 (dollar_amount) — par value of Nuveen Multi-Asset Income Fund's Common Shares
Forward-Looking Statements
- Saba Capital Management, L.P. will continue to maintain an active stake in Nuveen Multi-Asset Income Fund. (Saba Capital Management, L.P.) — high confidence, target: 2025-01-18
- Saba Capital Management, L.P. may propose strategic initiatives to Nuveen Multi-Asset Income Fund's management. (Saba Capital Management, L.P.) — medium confidence, target: 2024-07-18
FAQ
Who filed this SC 13D/A amendment?
Saba Capital Management, L.P. filed this SC 13D/A amendment, as indicated by the 'FILED BY' section and the reporting person information on page 2 of 6.
What is the subject company of this filing?
The subject company is Nuveen Multi-Asset Income Fund, as stated under 'Name of Issuer' and 'SUBJECT COMPANY' data in the filing.
What is the date of the event that required this filing?
The date of the event which required this filing is January 16, 2024, as specified on page 1 of the filing.
What is the par value of the securities involved in this filing?
The securities involved are Common Shares with a $0.01 par value, as stated under 'Title of Class of Securities' on page 1.
What is the business address of Saba Capital Management, L.P.?
The business address of Saba Capital Management, L.P. is 405 Lexington Avenue, 58th Floor, New York, NY 10174, as listed in the 'FILED BY' section and on page 1 of the filing.
Filing Stats: 1,235 words · 5 min read · ~4 pages · Grade level 13.2 · Accepted 2024-01-18 12:15:06
Key Financial Figures
- $0.01 — Fund (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securiti
Filing Documents
- formsc13da.htm (SC 13D/A) — 51KB
- exhibit4.htm (EX-4) — 14KB
- 0001062993-24-001009.txt ( ) — 67KB
is hereby amended and supplemented by the addition of the following
Item 6 is hereby amended and supplemented by the addition of the following: The Reporting Persons' response to Item 4 is incorporated by reference into this Item 6. Item 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit 4: Form of Nominee Agreement CUSIP No. 670750108 SCHEDULE 13D/A Page 6 of 6 Pages
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: January 18, 2024 SABA CAPITAL MANAGEMENT, L.P. By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer SABA CAPITAL MANAGEMENT GP, LLC By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory BOAZ R. WEINSTEIN By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Attorney-in-fact* * Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823